Maritime Electric, a wholly owned subsidiary of Fortis Inc., has been approved by the Island Regulatory and Appeals Commission (IRAC) for a power purchase agreement with P.E.I. Energy Corp., a utility that serves Prince Edward Island.

According to the companies, the agreement allows for the purchase of 39 MW of wind power. P.E.I. Energy Corp. will develop a 30 MW wind farm at East Point from the purchase and, the company says, the first wind energy from the wind farm could begin moving through the new transmission lines before the end of January 2007. The energy price under the agreement is for $0.0775/kWh.